Yes it currently would. But that is very normal and should be that way because any other bank transfer is equally scrutinized for its source and the anonymity of BC and the inability to trace he source of funding raises a lot of questions.
BitCoin Use Safety, Very Basic Question.
- Thread starter FJMcC
- Start date
Look into bitpay.com ... They are a large reputable company in the bitcoin space .They will hedge you out right away so you have no Bitcoin flat price risk.
Coinbase is a good option.
Bitfinex has relatively high volume compared to others.
These companies all have AML/KYC compliance and if you report your dealings with them to the IRS in a legit manner there won't be any issues.
If your bank won't let you do business with legit bitcoin companies, then switch banks.
Sometimes wires take half a day to a day to go through. I can see why an international company or any company would want to use bitcoin, it's fast , cheap , and secure. Just make sure you know and trust your partner because bitcoin transactions are not reversible.
Coinbase is a good option.
Bitfinex has relatively high volume compared to others.
These companies all have AML/KYC compliance and if you report your dealings with them to the IRS in a legit manner there won't be any issues.
If your bank won't let you do business with legit bitcoin companies, then switch banks.
Sometimes wires take half a day to a day to go through. I can see why an international company or any company would want to use bitcoin, it's fast , cheap , and secure. Just make sure you know and trust your partner because bitcoin transactions are not reversible.
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of course is he at risk because his account is based on USD but he sends BC every now and then and then he receives BC at a later point. So that service does not reduce his currency exposure at all.
Independent from which broker he uses, if he knows exactly how many BC he will send and when, and when and how many BC he will receive later he can put on a hedge himself with a derivative (forward, future, ...). But I am not sure anyone offers those yet.
Independent from which broker he uses, if he knows exactly how many BC he will send and when, and when and how many BC he will receive later he can put on a hedge himself with a derivative (forward, future, ...). But I am not sure anyone offers those yet.
Bitmex offers futures. It is headed by a former GS person. US citizens need to download Tor to use Bitmex. I think they might even have daily BTC contracts. There are other firms like OKCoin that have been trading derivatives for a while. Only non-US citizens can use them.
AML KYC is on the horizon as a choice in the near future. The Waves and Boardroom platforms are going this route. BTC would be a currency option, but the gateways would be AML KYC compliant. These platforms use a decentralized approach whereas the banks are going the private blockchain/ permissions/ centralized approach.
AML KYC is on the horizon as a choice in the near future. The Waves and Boardroom platforms are going this route. BTC would be a currency option, but the gateways would be AML KYC compliant. These platforms use a decentralized approach whereas the banks are going the private blockchain/ permissions/ centralized approach.
It's all over the interwebs. It's believed to be a surge in Chinese interest in BTC as a way to bypass capital controls.